Samia eyes robust trade corridor with Singapore

DAR ES SALAAM: PRESIDENT Samia Suluhu Hassan has called on Tanzanian and Singaporean investors to jointly seize emerging economic opportunities as Tanzania seeks to establish a stronger trade corridor with the highly developed state in Southeast Asia, supported by enhanced aviation and maritime connectivity.

The President also urged investors from both countries to establish a joint Tanzania-Singapore investment promotion platform coordinated by the Tanzania Investment and Special Economic Zones Authority (TISEZA) and its Singaporean counterpart, to facilitate greater investment flows between the two nations.

Dr Samia made the remarks yesterday while inaugurating the Tanzania-Singapore Business and Investment Forum in Dar es Salaam, an event aimed at strengthening bilateral trade and investment ties.

She highlighted several highgrowth sectors that offer significant investment opportunities, including ports and logistics, with a particular focus on expanding the Dar es Salaam Port, which serves as a key gateway to Eastern and Southern Africa.

“Distinguished participants, the success of this business forum will not be judged by the speeches delivered today, but by the partnerships, investments and progress that emerge from it,” President Samia told hundreds of investors gathered at the Julius Nyerere International Convention Centre (JNICC) in Dar es Salaam.

“I, therefore, urge all participants to seize these opportunities and translate them into tangible investments and business partnerships,” she added.

President Samia also identified agriculture as a promising area for collaboration, noting Tanzania’s potential to supply Singapore with agricultural products such as rice, coffee, tea, spices and cashew nuts.

Mining was another sector highlighted as having significant potential, particularly as Tanzania advances its agenda of adding value to minerals, including tanzanite and other gemstones, which have traditionally been exported in raw form.

Drawing inspiration from Singapore’s success in tourism development, Dr Samia encouraged investors to explore partnerships in tourism, hospitality and the blue economy, including the development of coastal tourism infrastructure.

She further expressed her desire to deepen cooperation in the financial sector by leveraging Singapore’s expertise as one of the world’s leading financial and fintech hubs.

“A strong and efficient financial sector is essential for building investor confidence and facilitating seamless business transactions,” she said.

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President Samia called for greater collaboration in renewable energy development, encouraging investors to explore opportunities in natural gas, solar, wind and geothermal energy projects. She reaffirmed the government’s commitment to maintaining a predictable and businessfriendly investment environment through institutions such as TISEZA.

According to the President, TISEZA’s One-Stop Facilitation Centre has reduced the time required for business registration from one week to just 24 hours, improving the ease of doing business in the country. For his part, Singapore President Tharman Shanmugaratnam underscored the importance of the two countries in complementing each other’s strengths to achieve shared prosperity.

He encouraged investors to transform opportunities into tangible economic gains through partnerships in sectors such as tourism, agriculture and trade.

Earlier, Minister of State in the President’s Office (Planning and Investment), Professor Kitila Mkumbo, said the business forum and the state visit provided Tanzania with an opportunity to learn from Singapore’s remarkable development journey.

He noted that Singapore had transformed itself from a low-income country into one of the world’s most competitive economies, with a per capita income of about 100,000 US dollars.

Once considered among the poorest nations in the world six decades ago, Singapore has emerged as a global economic powerhouse, offering valuable lessons for developing countries seeking rapid and sustainable growth.